Crude Oil reversed losses to close slightly higher after another day passed without an announcement from the Biden Administration to tap U.S. crude oil reserves.
Saudi Arabia
OPEC+ To Extend Oil Production Cuts Till April — Neal Bhai
OPEC+ To Extend Oil Production Cuts Till April. The Organization of the Petroleum Exporting Countries Plus, in its latest meeting, agreed to extend production cuts from March to April 2021.
Oil prices up at levels last seen in March on vaccine hopes, EU deal
Oil prices rose on Tuesday, helped by positive news about vaccine trials and a European Union stimulus deal reaching levels last seen when an oil price war erupted in early March between Russia and Saudi Arabia.
Gold Below $1562, MCX Below 41840 Buy Karna Mana Hai – Neal Bhai
The rate of 10 gram 22-carat gold in Mumbai was Rs 36,535 plus 3 percent GST, while 24-carat 10 gram was Rs 39,886 plus GST. The 18-carat gold quoted at Rs 29,914 plus GST in the retail market.
Crude Oil Plunges to Lowest Since 2017 After Russia Rejects Steep OPEC Cut
Russia balked at OPEC’s proposed steep production cuts to stabilize prices. A Russian high-level source told Reuters that Moscow would not back a call for extra reductions in oil output and would agree only to an extension of existing cuts by the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+.
Crude Oil Up as Saudi Arabia Reports Drone Attacks on Pipeline
Gold Silver Reports (GSR) – Crude Oil prices up as Saudi Arabia reported drone attacks on pipeline, the latest escalation in Middle East tensions.
Saudi Arabia Output to Rise to Just Above 10 Mln b/d over Next 2 Months
Saudi Arabia doesn’t yet plan production above its assigned OPEC quota of 10.311mbpd
Saudi King Reportedly Emphasises Drive Towards Ensuring Stability In Oil Markets
Goldman Sachs sees oil taking a fleeting trip to $70-$75 a barrel
Gold Silver Reports (GSR) – Crude Oil prices could potentially rise as much as 12% from current levels, though the rally may prove fleeting, according to Goldman Sachs Group Inc.
Two Big Producers just Called the Bottom on Crude oil: $60 a Barrel
Gold Silver Reports (GSR) – Oman oil minister Mohammed Al-Rumhi told Bloomberg TV that the agreement between the Organization of Petroleum Exporting Countries (OPEC) and partners including Russia and Oman can sustain prices at $60 a barrel.
Crude Oil Prices Dip as Worries over Economic Slowdown Return
Gold Silver Reports (GSR) — Crude Oil prices were also supported by comments from US Federal Reserve Chairman Jerome Powell on Thursday that the central bank had the ability to be patient on monetary policy.